How fast does the government spend money? Faster and faster with each passing moment. In May, the federal government spent $125 billion deficit for the month–more than double the amount it spent in May 2011.
So far this fiscal year, the budget deficit stands at $844.5 billion, narrower than at the same time a year ago.
Under the government’s accounting system, October is the opening month of fiscal 2012. During fiscal 2011 which ended Sept. 30, the budget deficit totaled $1.296 trillion.